The Victorian Heart Hospital will make a major ongoing contribution to the local and Victorian economies.
The project will bring almost $400 million in revenue annually to the Victorian economy, including $110 million in revenue through research and teaching activity directly attributable to the partnership with Monash University and the hospital’s location on Monash’s Clayton campus.
The positive economic impact of Victorian Heart Hospital will include…
- More than 1,700 jobs during the construction period
- Directly employing more than 850 people across clinical care and research,
- Estimated salary expenditure of $142 million each year
Procurement and ongoing expenditure
- $178 million in clinical procurement
- $18 million in research procurement
Attracting research funding & increasing teaching activity
- $58 million research income projected annually to support research
- Approximately 220 research scientists and clinicians will be dedicated to cardiac research.
- $19 million annual benefit from education tourism
The translation of cardiac care advances into improved health outcomes for patients will bring wider benefits in the form of reduced health system spending and increased productivity.